Skip to content
Homiy home page
What's real hereHomes are fictional samples.Prices, rents, taxes and price trends are real public data, with sources.Homiy isn't a licensed brokerage yet and offers no services.See what's real and where it comes from

Menu

Ask HomiySearch homes
All cities

Minneapolis market pulse

Real public data for Minneapolis's ZIP codes, updated as the agencies publish.

Metro prices

+73%

in 10 years · Minneapolis metro · 2016 Q2–2026 Q2

KnownSource: FHFA House Price Index, purchase-only, not seasonally adjusted, quarterly: Minneapolis-St. Paul-Bloomington, MN-WI (metro area 33460), 2000 Q1–2026 Q2 (opens in a new tab)

Past change, not a forecast.

Data table
Minneapolis-St. Paul-Bloomington, MN-WI metro: FHFA house price index, 2016 Q2 to 2026 Q2
QuarterIndexChange since 2016 Q2
2016 Q2251.9—
2016 Q3255.1+1.3%
2016 Q4251.80%
2017 Q1257.8+2.3%
2017 Q2269.5+7.0%
2017 Q3271.1+7.6%
2017 Q4269.0+6.8%
2018 Q1276.2+9.6%
2018 Q2287.7+14%
2018 Q3289.7+15%
2018 Q4284.6+13%
2019 Q1292.4+16%
2019 Q2300.8+19%
2019 Q3303.1+20%
2019 Q4301.0+19%
2020 Q1307.9+22%
2020 Q2318.7+27%
2020 Q3326.3+30%
2020 Q4331.3+32%
2021 Q1343.1+36%
2021 Q2363.8+44%
2021 Q3366.9+46%
2021 Q4367.8+46%
2022 Q1380.5+51%
2022 Q2399.0+58%
2022 Q3388.9+54%
2022 Q4379.0+50%
2023 Q1384.6+53%
2023 Q2404.6+61%
2023 Q3401.8+60%
2023 Q4393.1+56%
2024 Q1399.7+59%
2024 Q2413.0+64%
2024 Q3413.8+64%
2024 Q4408.6+62%
2025 Q1415.9+65%
2025 Q2427.1+70%
2025 Q3426.8+69%
2025 Q4421.6+67%
2026 Q1424.9+69%
2026 Q2436.6+73%

Each index has its own base, so compare its changes, not its level.

Details

FHFA's purchase-only index for Minneapolis-St. Paul-Bloomington, MN-WI: repeat sales of the same houses, from mortgages Fannie Mae and Freddie Mac purchased or securitized. It isn't seasonally adjusted, so each span starts in the quarter it ends.

ZIP by ZIP

+65%

The median ZIP's house price index, 2015–2025. 16 ZIPs, from +11% to +101%.

KnownSource: FHFA House Price Index, five-digit ZIP codes, annual (developmental, all-transactions), 2000–2025 (updated 2026-03-31) (opens in a new tab)

One-year ZIP changes are noisy: of last year's top-3 ZIPs in our 50 cities, 1 in 15 was top 3 again. Past change, not a forecast.

Loading the ZIP figures…
About these figures

FHFA's experimental ZIP house price index: houses with Fannie Mae or Freddie Mac loans, from sales and refinance appraisals. Condos, co-ops and multi-unit buildings aren't in it. 16 of Minneapolis's 21 ZIPs have an index; FHFA publishes one only where enough sales exist. A ZIP whose index stops before the latest year shows the year it ends instead of changes. Each index has its own base, so compare a ZIP's changes, not its level.

Rent or buy here

EstimateMonthly housing payment (est.): 20% down · 30-year fixed at 7.03% (Freddie Mac average) · 360 monthly loan payments of $2,295 · APR not calculated (it depends on the lender's fees) · includes principal and interest, property tax, home insurance and any HOA dues, plus mortgage insurance below 20% down.7.03% is Freddie Mac's average 30-year fixed rate for the week of Sep 24, 2026, for buyers with 20% down and excellent credit. It isn't an offer or an APR.Source: Freddie Mac Primary Mortgage Market Survey · Sep 24, 2026 (opens in a new tab)$618

a month more to own a typical sample home than HUD's rent for its size, ZIP 55417

EstimateSource: U.S. Department of Housing and Urban Development, Small Area Fair Market Rents by ZIP code, FY2027, FY2027 (from Oct 1, 2026) (opens in a new tab)
Own: 3-bedroom sample house, $429,900Sample: fictional home, for the demo.
EstimateMonthly housing payment (est.): 20% down · 30-year fixed at 7.03% (Freddie Mac average) · 360 monthly loan payments of $2,295 · APR not calculated (it depends on the lender's fees) · includes principal and interest, property tax, home insurance and any HOA dues, plus mortgage insurance below 20% down.7.03% is Freddie Mac's average 30-year fixed rate for the week of Sep 24, 2026, for buyers with 20% down and excellent credit. It isn't an offer or an APR.Source: Freddie Mac Primary Mortgage Market Survey · Sep 24, 2026 (opens in a new tab)$2,868 a monthNot included: upkeep, utilities, flood insurance, special assessments.
Rent: HUD fair market rent, 3 bedrooms
$2,250 a monthHUD Small Area Fair Market Rent, FY2027: a 40th-percentile rent for a standard home, utilities included. Not an asking rent.
See this sample home

Lending

6.625%

Median rate, 30-year fixed conventional · 2,689 loans · 2025

KnownSource: FFIEC Home Mortgage Disclosure Act (HMDA) data: 2025 Snapshot National Loan-Level Dataset (data as of June 1, 2026), via the CFPB HMDA Data Browser; Homiy's calculations, 2025 loans; retrieved 2026-09-27 (opens in a new tab)

2025 home-purchase loans (first liens) on owner-occupied 1–4 unit homes in Minneapolis's census tracts: 3,476 loans. Loans that closed, not offers: a rate depends on your credit, down payment, points and the day you lock it.

Middle half of rates
6.375% to 6.875%
Loan costs at closing
$5,044 medianMiddle half $4,107 to $7,086: origination charges (points included) and settlement services, Closing Disclosure section D · 2,955 loans
Loan limits, 2026
$832,750 conformingAbove it, a jumbo loan with its own rates and rules; FHA limit $552,000 (one-unit home, Hennepin County). Limits set by FHFA and HUD.
More lending figures
Borrowed, every loan on the home combined
88% of the value (median)Middle half 80% to 95%. 56.6% of buyers borrowed more than 80% of the value, 40.1% more than 90%, 22.8% more than 95%. HMDA's combined loan-to-value counts every loan on the home (second loans, down-payment-assistance loans, financed FHA or VA fees) against the value the lender used, so it doesn't show the cash buyers put down · 3,362 loans
Loan types
Conventional 88.7% · FHA 7.9%VA 3.4% · USDA 0%
Discount points
54.1% of loans paid pointsMedian paid: $1,982. Points buy a lower rate.

For comparison: 7.03% is Freddie Mac's average 30-year fixed rate for the week of Sep 24, 2026, for buyers with 20% down and excellent credit. It isn't an offer or an APR.

Flood and insurance

$2,327 a year

Median of 16 Minneapolis ZIPs' average homeowners premiums, 2022. Premiums have risen since; get quotes for your address.

KnownSource: U.S. Treasury, Federal Insurance Office: Analyses of U.S. Homeowners Insurance Markets, 2018–2022, Supporting Underlying Metrics by ZIP code (premiums per policy, nonrenewal rate), 2018–2022 (published January 2025) (opens in a new tab)
Federal flood insurance
166 policies in force · 39 claims since 2000FEMA National Flood Insurance Program, summed over 21 ZIPs (policies in force Jun 30, 2026; claims since 2000). Private flood policies aren't counted.
Policies insurers didn't renew
0.7% in the median ZIPU.S. Treasury Federal Insurance Office, 2022.

Most homeowners policies exclude flood, so flood insurance is a separate policy. Source: FEMA FloodSmart: What is my flood risk?, retrieved 2026-10-09 (opens in a new tab) Check an address on FEMA's flood map (opens in a new tab)

County hazard ratings (FEMA)

Natural hazards, compared with other U.S. counties

  • Hennepin County, MN: expected yearly losses rated very high for tornado, winter weather, hail; expected yearly losses rated relatively high for inland flooding, heat wave.
    Other ratings for Hennepin County, MN
    • EarthquakeRelatively Low
    • WildfireRelatively Low

FEMA National Risk Index December 2025: Expected Annual Loss rating of each hazard, by county (NRI December 2025): expected annual losses to buildings, people and agriculture; FEMA's social-vulnerability adjustments aren't included. This describes each county, not one home. Check an address on FEMA's flood map; in a high-risk flood zone, a federally backed loan requires flood insurance.

What's new in Minneapolis

Rail openings, zoning changes and big projects from primary sources, newest first. News, not a price forecast.

  1. Rail opened

    METRO E Line bus rapid transit opens

    The new BRT service connects the University of Minnesota, downtown, Uptown and the Southdale area. It uses buses, not a new rail line.

    Metro Transit, E Line opening (opens in a new tab)
  2. Zoning change

    2040 land-use rezoning takes effect

    New primary zoning districts align land-use rules with Minneapolis 2040. The earlier three-home policy remains subject to built-form and building-code standards.

    Minneapolis 2040, Land Use Regulations implementation (opens in a new tab)

Rules in Minnesota

From state law, standard contract forms and local custom. Research, not legal advice.

ClosingRule
A title company runs the closing and holds the money.
Seller's disclosureRule
Seller's Property Disclosure Statement (Minn. Stat. 513.52–513.61)
Closing taxesRule
Minnesota deed tax: 0.33% of the price · seller paysMinnesota mortgage registry tax: 0.23% of the loan · buyer paysHennepin County environmental response fund (deed): 0.01% of the price · seller paysHennepin County environmental response fund (mortgage): 0.01% of the loan · buyer pays
How buying works in Minnesota
Who runs the closing
A title company runs the closing and holds the money. Typical time from contract to keys: about 30 days.
The contract
Your signed offer becomes a binding contract once the seller accepts it.
Details

Minnesota REALTORS Purchase Agreement (defaults not reviewed)

Buyer agreement
Minnesota REALTORS buyer representation contract, signed before touring.
Details

A signed buyer's broker agreement is required before performing any act as the buyer's representative (Minn. Stat. 82.66 subd. 2).

Source: Minn. Stat. §82.66 subd. 2 buyer's broker agreements (quoted in NAR 2024 report)

Inspection
About 10 days for inspections.
Details

Sample; set in the purchase agreement.

Earnest money
1–2% of the price, due within 3 days, held by: Listing broker trust account or title company.
Details

Sample values; the contract sets them.

Seller's disclosure
Seller's Property Disclosure Statement (Minn. Stat. 513.52–513.61)
Details

Required unless both sides agree in writing to waive it or the seller uses a qualified inspection; no rescission right.

Source: Minn. Stat. §§513.52–513.61 seller's disclosure (statute; not re-fetched in this session)

Loan and appraisal
Loan contingency: 21 days (set in the contract).
Details

Sample; appraisal and financing terms are set in the purchase agreement.

Title insurance
Who pays for the owner's policy varies; the contract decides.
Details

Secondary sources disagree on who customarily pays; negotiated in the purchase agreement.

Property tax for a new owner
Your property tax follows the county's assessed market value. About 1.2% of the price a year is our planning figure for Minneapolis; your bill can differ.
Details

Estimated market value each January 2; homestead classification and the homestead exclusion lower the taxable value; a sale doesn't reset it.

Census ACS 2020–2024 median tax ÷ median value in Minneapolis (1.20%). Minnesota taxes estimated market value with a lower homestead class rate; a sale doesn't reset it. Owner-reported values lag the market; treat as an estimate.

Agent credits to the buyer
Minnesota allows an agent to credit part of their pay to the buyer, with the lender's approval.
Details

The rebate ban exempts payments to the parties to the transaction (Minn. Stat. 82.70 subd. 2(b)(1)); compensation must be disclosed (subd. 3).

Source: Minn. Stat. §82.70 compensation, rebates (parties exempt), undisclosed compensation (retrieved 2026-09-27)

Closing taxes

Closing taxes in Minneapolis, who customarily pays and the rate
TaxCustomarily paid byRate
Minnesota deed taxSeller0.33% of the priceMinnesota Dept. of Revenue: deed tax rate 0.0033 (+0.0001 Hennepin/Ramsey)
Minnesota mortgage registry taxBuyer0.23% of the loanMinnesota Dept. of Revenue: mortgage registry tax rate 0.0023 (+0.0001 Hennepin/Ramsey)
Hennepin County environmental response fund (deed)Seller0.01% of the priceMinnesota Dept. of Revenue: deed tax (Hennepin/Ramsey environmental response fund 0.0001)
Hennepin County environmental response fund (mortgage)Buyer0.01% of the loanMinnesota Dept. of Revenue: mortgage registry tax (Hennepin/Ramsey +0.0001)
Sources (11)

Programs and deadlines

Official pages for Minneapolis, the same for every buyer. Each program decides who qualifies.

Down-payment help
Start Up (opens in a new tab) (Minnesota Housing)Mortgages for first-time homebuyers with down payment and closing cost loan options of up to $18,000; Step Up offers up to $14,000 for repeat buyers.Official page, checked 2026-09-28.Minnesota's housing finance agency runs it; the program decides who qualifies and for how much.
Down-payment help in Minneapolis
Down Payment Assistance (opens in a new tab) (City of Minneapolis)A 30-year deferred, no-interest loan of up to $20,000, based on household income and available funds.Official page, checked 2026-09-28.
Homestead exemption
Homestead Classification (opens in a new tab) (Minnesota Department of Revenue)For a property you own and occupy as your sole or primary residence; apply to your county assessor once, and you don't reapply.Deadline: December 31, for taxes payable the next yearOfficial page, checked 2026-09-28.
If you disagree with your assessment
Process to appeal your property assessment (opens in a new tab) (City of Minneapolis Assessing Department)Ask the Assessing Department for an informal review; if you disagree with its findings, file a formal appeal with the Local Board of Appeal and Equalization, and after its ruling you may appeal to the County Board of Appeal and Equalization.When: April 3, 2026 for an informal review; April 9, 2026 to file a formal appeal with a scheduled hearing at the Local Board, which meets April 14, 2026 (the 2026 window has closed; it opens again next year)The city's Appeal your market value page adds that you can also appeal to the Minnesota Tax Court until April 30 of the year the taxes are payable.Official page, checked 2026-09-28.
After you buy: alerts on your deed
Property Watch notification service (opens in a new tab) (Hennepin County)A free email when a document affecting your property is recorded; it won't prevent fraud, but it lets you review unexpected recordings.Official page, checked 2026-09-28.

Sample homes in Minneapolis, each with its estimated monthly cost and the things to check. Found one somewhere else? Check it here.

Search MinneapolisCheck a home
Sources (33)